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Tesla Invests $1.5 Bln In Bitcoin, Plans To Accept Cryptocurrency In Near Future

Tesla Inc. (TSLA) disclosed in a regulatory filing on Monday that it invested an aggregate of $1.5 billion in Bitcoin. The company expects to accept the cryptocurrency as a form of payment for its products in the near future, subject to applicable laws and initially on a limited basis.

The luxury electric car maker said in the filing that it made the move as part of a policy change designed to provide the company with more flexibility to further diversify and maximize returns on its cash.

As part of new policy, Tesla board approved the company to invest a portion of cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future.

The prices of digital assets have been in the past and may continue to be highly volatile, including as a result of various associated risks and uncertainties.

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